Here’s why M&A activity is surging in Canada’s tech sector
The global impact of the COVID-19 pandemic has given rise to new market conditions in the Canadian tech sector that require startups to change their approach to growth.
As deal-making goes remote, and tech companies seize new opportunities created by the new normal, many facets of Canada’s tech ecosystem have changed dramatically in response. One of the areas seeing the most change is how businesses are being bought and sold.
“The leading companies of the future are those that have technology at the heart of their strategy.”
Large deals fuelled Calgary’s healthy 2020, but Western Canada could have an early-stage funding problem
Although Calgary tech startups raised more venture funding through more deals in 2020 than in the year prior, a lack of early-stage deals could indicate a funding gap at this stage extending across Western Canada.
Hockeystick tracked four deals under $250,000 in 2019 and 2020, indicating an early-stage gap.
Hockeystick’s Calgary Tech Report looks at how the province’s tech ecosystem fared in terms of deals and dollars, with data sourced through exclusive partnerships with organizations like the Canadian Venture Capital and Private Equity Association (CVCA). Hockeystick also compiles data from startups using its platform, as well as public data sources.
New report indicates potential investing gap for BC’s early-stage startups
A new analysis by Hockeystick of British Columbia’s deal activity for 2020 shows a gap in early-stage startup funding.
Hockeystick’s BC Tech Report looks at how the province’s tech ecosystem fared in terms of deals and dollars, with data sourced through exclusive partnerships with organizations like the Canadian Venture Capital and Private Equity Association (CVCA). Hockeystick also compiles data from startups using its platform, as well as public data sources.
In 2020, BC saw general capital support across all stages. Early-stage deals accounted for 31 percent of all deals, while Series A deals accounted for 20 percent, and late-stage deals accounted for 40 percent. Since Hockeystick’s Q2 2020 report, there has been consistent late-stage activity for the region.
Despite small decline in deals, Waterloo Region remained a healthy startup ecosystem in 2020
Waterloo Region startups raised $689.6 million for all of 2020 up 107 percent over 2019, according to Hockeystick’s latest ecosystem report for the region.
The overall funding was driven by three notable deals in the region, including Faire, which raised $222 million, Miovision, which raised $120 million, and ApplyBoard, which raised a $100 million Series C in May 2020 and a $70 million extension following investor interest five months later. ApplyBoard and Faire also represented two sectors that saw a boom as COVID-19 forced businesses to embrace online services: retail and EdTech.
Wholesale marketplace Faire, which is headquartered in Silicon Valley with an office in Kitchener, managed to push the marketplace vertical to the top of funded areas, followed by SaaS, healthtech, analytics, and AI. Even with Faire’s $222 million round removed from the quarter’s tota
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